Navratna central public sector enterprise under the Ministry of Railways jumped 3 percent in the day’s trade upon receiving a Letter of Acceptance (LOA) worth Rs. 67.50 Crores from The National Small Industries Corporation Limited
With a market capitalization of Rs. 15,278 Crores, the shares of Rites Limited were trading at Rs. 635.75, up 2.11 percent from its previous day’s close price of Rs. 622.60.
Rites Limited has received a Letter of Acceptance (LOA) worth Rs. 67.50 Crores from The National Small Industries Corporation Limited for the engagement of RITES Limited as a Quality Assurance Agency for the quality inspection of 18 trades of Toolkits under PM Vishwakarma Scheme.
Rites Limited is a Navratna central public sector enterprise under the Ministry of Railways, it is a multidisciplinary engineering and consultancy organization, that provides a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.
As of Q3FY24, Rites Limited has a strong order book of Rs. 5,496 Crores and as of 9MFY24, it generates 51 percent of its revenue from consultancy, 38 percent from turnkey projects, 6 percent from leasing, and 5 percent from exports.
Its revenue from operations grew by 0.88 percent from Rs. 677 Crores in Q3FY23 to Rs. 683 Crores in Q3FY24, accompanied by profits of Rs. 147 Crores to Rs. 129 Crores.
It has reported a return on equity (ROE) of 21.3 percent and a return on capital employed (ROCE) of 29.7 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
